Turo Rytsölä: A new direction for the debt collection industry
03 Mar 2023, 7:27 GMT
"Debt collection industry needs a new direction".
This is what debt collection company Zolva's Head of Sales Turo Rytsölä says.
Rytsölä is one of the members of Zolva’s local management team. He is responsible for sales and marketing in Finland.
The collection industry needs a new direction.
This is what debt collection company Zolva’s Head of Sales Turo Rytsölä says.
– The interests of clients, end customers and debt collection companies must be aligned. At the moment it is not happening. We have received a strong message from our customers that the willingness to develop cooperation, especially among the large debt collectors, has been low, he says.
Rytsölä refers to, among other things, transparency. The operations and processes in the industry are not transparent towards the clients,, so the efficiency of the collection process remains unclear. Fees charged to end customers are also often obscured.
As an end-result, the reputation of the entire industry remains weak.
“Our goal is to be a major player in Finland. There is a lot of potential and opportunities. I believe that we will hire 10–20 people in Finland by the end of this year. We are looking for experts especially in receivables management and customer service.”TURO RYTSÖLÄ, HEAD OF SALES
– The industry would have tools and opportunity to act differently. Methods of handling payments familiar from today’s banking world could also be used in the debt collection industry. Otherwise, the activities towards end customers for paying invoices must be on a completely different level. We are able to offer all the most commonly used payment methods and channels as well as flexible payment plans for paying the unpaid invoice. It improves the customer experience.
Flexibility, modern technology and real-time data transfers
Rytsölä emphasizes the opportunity for clients to make choices. Every collection process can be agreed on a customer-specific basis thanks to a flexible system and modern technology.
The utilization of data is key for success. Data and information related to assignments are transferred in real time between different systems and databases when it comes to transferring an invoice to collection, making a payment, status information or reporting.
– As a result, many things become easier and transparent, such as invoice management, payment and cash flow monitoring, he lists.
Strong footprint in the market
Zolva Group is a new player in Finland and internationally. However, the turnover forecast of the company founded in the second year for last year was already almost 50 million euros. Growth has mainly come through acquisitions.
In addition to the Nordic countries, Zolva has operations in Italy, Spain, Portugal and Luxembourg. The company’s headquarters are located in Norway.
– Our goal is to be a major player in Finland. There is a lot of potential and opportunities. I believe that we will hire 10–20 people in Finland by the end of this year. We are looking for experts especially in receivables management and customer service, says Rytsölä.
Rytsölä himself has almost 25 years of experience in the industry in various sales and sales management positions. According to Rytsölä, all members of the management team have a long history in the industry and the same desire to change the industry.
Zolva’s slogan sums up the desire for change well: “Because the collection industry must change”.
– All Zolva employees have been driving in the same direction from the beginning. I myself have been able to do a little bit of everything in the beginning, and the growth phase is really interesting. Personally, this has been a unique experience, he admits.
Zolva in brief
- Founded in 2021
- Previously known in Nordics under name of Finans2
- Group’s revenues estimated to be 50 MEUR
- 650 employees
- Operations in Norway, Finland, Sweden, Denmark, Italy, Spain and Portugal
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